Many of you have seen a boost in your bank account over the last week or so as the IRS has started the process of issuing rebates to about 130 million Americans. It's all part of the economic stimulus package, and yet according to a poll run by CNN 82 percent of Americans don't believe that the checks will do much of anything to give our economy the boost it needs. While the majority on the receiving end aren't confident that the checks will have their intended effect, many economists and politicians are holding their positive ground.
President Bush's Deputy Press Secretary Tony Fratto said, "It will boost the economy — it's impossible that it won't. It's like saying if I pour water into a cup, will it get wet?" At the same time, Secretary of the Treasury Henry Paulson noted that high gas prices will likely reduce the impact rebate checks will have on the economy. Where do you stand?
Mike & Chris
Cath Kidston
Givenchy
I didn't use ANY of my check to stimulate the economy! It all went to bills.
1I said it won't stimulate. Mine will go to bills as well, and I know MANY people who are putting theirs toward Visa. On the contrary, maybe this will do a long term stimulus with folks FINALLY saving some money.
2I probably spent $100 on stuff but that is just because it's finally spring and I needed some new things. I would have spent the money anyway. It's all going to bills and being saved for a house.
3it's going in my savings with the rest of my money
4Mine will be stimulating the European economy
5It's not going to help the economy, but if I say it will, and they'll send more checks, hey.... It's going to be 2004 all over again! ~.0
6Part of my check is going to pay taxes. ARGH! Stupid ad valorem tax. The rest will stimulate the economy in a month or so.
7i doubt it'll have much of an impact. mine went to paying down my creidt card debt, although my mom said she'd buy me a new pair of sneakers with her rebate check lol.
8My check went right to my credit card bill- which the economy had helped stimulate
9I am right there with the mass majority I am going to be paying bills with my check. That's it that's all. Bringing down my National Debt
10Wow! Am I the first commenter who is actually supporting the economy? My bf moved in with me in November, and we don't have a bedroom suite. We are sleeping on just a bed frame w/ the box spring & mattress. I have those plastic "tubs" that I keep my clothes in. The rest of his that aren't hung up are just piled on the floor. It's a horrible mess & makes me sick. We are using our checks to buy a proper bed, dresser, etc.
11Well, I think it's finally time for me to own a Louis Vuitton bag, so I guess I will be supporting the French economy. Oops.
12I wish I could use my check to stimulate the economy. However, seeing as I've been unemployed for a few months, I'm using it to try to keep myself afloat for a little while longer
13I paid down bills as well.
14Mine is definitely going just to saving, which I guess will eventually stimulate the economy. However, it isn't quite what the government is hoping for.
15This check will NOT help stimulate the economy, but I'm sure they will spin it to make it seem like it did. This check is starting to look more and more like a ripoff anyways I know of people who were supposed to get $600 and it was taxed-or whatever excuse the gov't came up with- and these people only got $327, what a JOKE!
16My check is going to CC bills and my son's school tuition.
17i don't think that it's going to impact the economy in a positive way. for me, i'm going to use the money that i get back to pay off some of my credit cards...and that's what a lot of others are probably going to do i'm sure. anything that i can do to reduce my debt right now is going to be for the better i think.
18I don't believe it will stimulate the economy, most people will use it for bills, future vacations, and/or gas. I have not received mine as of yet, was suppose to get it on Friday. Sighs. Mine will go to bills.
19I don't think it will have as big of an impact on the economy as the government would like. Most people are going to be paying bills and putting money into savings. Which isn't a bad thing. This country does need to save more money! Myself included. My check will go to bills and savings. I won't be stimulating the economy. I'll just be stimulating the bill collectors. Lol.
20My check will be used to pay bills, but some people I know haven't received theirs yet. My Mom was supposed to get hers on Friday and didn't. I'm supposed to get mine this Friday, so we'll see what happens. I don't know what that's about though. I thought that you were sure to get it on time if you had direct deposit. I guess that the government is late paying its obligations like many Americans are these days.
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21I will save some and buy a grill with the rest. I can't wait to have BBQ's this summer at our new house!
22Wish I was getting one
23when i get my check, it's going directly to pay for bills.
24I had to pay $1500 in taxes this year, and then my car broke down and I had to put an emergency $1500 on my credit card for that. The $600 I get back will barely make a dent in paying off all that.
25Wishful thinking but I doubt it...
26Mine will go to support my beloved Mexico's economy
27Most of my check will go towards my car loan. I might buy a $200 bike with some of it.
28Mine is paying bills. Everyone I have talked to is doing the same thing or putting it into savings.
29Mine is paying bills. Everyone I have talked to is doing the same thing or putting it into savings.
30I only got $300 and it was all spent on my car. Shocks/brakes, etc. I think if they want to boost the economy, give more than $300 minimum. $300 is practically nothing these days.
31If the government wants to stimulate the economy, they would enact legislation to force the price of gas downwards...after all, its our dumb president who's family owns those effin reserves. Obviously, most checks are going for bills and gas, so he gets paid double.
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